CfC Stanbic Bank recognized for involvement in the Government of Kenya Eurobond

Standard Bank Group, which trades in Kenya as CfC Stanbic Bank, has been recognised by the Global Capital Emerging Markets Bond awards for its involvement in the issue of the Republic of Kenya’s landmark dual-tranche US$2bn Eurobond last year.

The deal was voted as the 2014 African Deal of the Year at the Global Capital Emerging Markets Bond awards. The Standard Bank investment banking teams in London and Nairobi acted as Joint Lead Manager and Joint Bookrunner for this Issue Republic of Kenya.

The Government of Kenya issued a US$500 million 5-year Eurobond at a coupon of 5.875% and a US$1.5 billion 10-year Eurobond at a coupon of 6.875%, making it the largest debut issuance by a sovereign in Sub-Saharan Africa.

Commenting on the award, Standard Bank’s Head of Investment Banking for East Africa, John Ngumi said: “Banks are an integral part of every economy and every society, and as a joint lead manager of the Kenya Eurobond deal, we are truly honoured to have been a part of this historic deal that is set to help transform Kenya through the key infrastructure projects to be funded by the proceeds of the issue.

“As a bank with a rich heritage that spans over 150 years, we have built a formidable reputation in the corporate and investment space by structuring some of East Africa’s most important financial transactions while providing a full spectrum of investment banking, transaction banking and markets solutions to our clients across the continent and beyond,” added Ngumi.

The annual award conducted by GlobalCapital  recognise the best deals in the international bond markets. GlobalCapital which is part of the Euro Week is a leading news, opinion and data service for people and institutions using and working in the international capital markets.